Assignment New Product Development to Market

Assignment New Product Development to Market

Assignment– New product development to market

208KM–Current Technologies

Assignment :

New Product development to market

Handout date : Week 6 (Monday)

Handin date : Week 12 (Friday)
Table of Content

Important Information

Summary of course Requirements

Appendix 1 Peer Assessment

Appendix 2 : Members statement

Appendix 3 - Assessment guide

Appendix 4 – Assignment cover sheet

Important Information

Title / New Product Development to market
Issue date / Week 6 (Monday)
Hand in date / Week 12 (Friday)
Type / Individual
Submission format / Report
Content limit / See individual sections (using 12 point font)
Mark / 45% of module mark
Learning outcomes / 1. Demonstrate sound understanding of the range of current and emerging contemporary technologies
2. Explain how to apply contemporary technologies and innovation managementto the market place
Other notes / -Utilise Harvard style referencing as found at
- adhere to the University regulations against plagiarism. Plagiarism is unacceptable and is subject to the investigative and disciplinary procedures by the University
Version / 2013-14 Tri 1 Academic year

Summary of course Requirements

You are been asked to develop a report on the investigation, design and prototype of a current technology led product. Considerations should be given to the product, the process of New Product development and marketing considerations

You are required to compile a report with the following sections outlined :

  • company name
  • Your initial idea generation - research for ideas for contemporary technologies and a business case
  • Consider and outline Product Development Lifecycle project plan
  • Carry out market evaluation for developing a list of requirements for your product
  • Design a prototype
  • Define a marketing and sales strategy

You should be succinct and specific in articulating your findings. You should present your findings in a report format.

Requirement 1 - The report : (12 Marks)

Complete the statement of members form (appendix 2) to indicate who is in the team, giving a relevant name for your company/ group

However as an outline :

Your report should be typed using an appropriate PCediting application (such as Microsoft Word). The report should be in (12 font size), have a front title page, a table of contents, a small introduction as to what the task is and what the report aims to address. Also, each of the pages should be numbered (and so referred to by the Table of contents, which can be built automatically in Word, through identifying ‘headings’). You should also provide a list of references from any sources you have used, in a ‘reference section’, using the ‘Harvard style’ of referencing. You should have the following requirements (2-7) as sections in your report. Appendices can be numbered 1 to X, and it is entirely up to you how you arrange them, as long as they are comprehensive, organised and clearly marked and support your findings.

Requirement2 –The business case (20 Marks)

a)Research and outline current technologies (Information and Communication Technologies that can be found in the market space or are yet to be further developed). (Max 3 A4 sides)

b)Identify and discuss business opportunities as identified and forwarded by each of the members in the group. The business opportunities will be centred on current technologies with consideration of any (or a combination of) the internet, wireless technology, pervasive technologies, Artificial Intelligence etc. (Approx 2 A4 sides max per idea). You can choose to illustrate your ideas diagrammatically, supported by explanation.

c)Collectively decide and agree upon one opportunity that you would like to progress(it has to be ICT related) by creating a matrix of advantages and disadvantages for each of the ideas. It may be that you feel a collaboration of ideas may be the best way forward.

d)Further defend your choice with respect to market conditions, user requirements, competition, skills available, benefits etc

Requirement3 – Product development lifecycle gantt chart (10Marks)

Consider a product development lifecycle for your business idea. The lifecycle will have stages that you will need to follow in orderfor your product to progress froman initial idea to market release and support.

a) Develop a Project plan (a Gantt chart) that will reflect the various stages of the product development lifecycle. The overall time scale you will have is 12 months in duration for your initial product launch. In the Gantt chart you will depict the stages, activities (at a high level), sequence and dependencies (at stage / high level), also various milestones, duration of tasks/ activities and various deliverables (for example outcomes of your stages)

You can use ms project / excel or powerpoint in depicting your project Gantt chart.

Requirement4 – Product requirements specification(18 Marks)

From your initial idea generation process you should have started to formulate some features/ functionality and characteristics for your product (as a requirements list). To further clarify , enhance and refine your list conduct the following :

Analyse the market place and determine the target audience.

a)Create a questionnaire that a sample of potential users could complete in order for you to expand on a list of requirements for your product. The questionnaire should be well structured and presented to probe potential users for information that will help you in designing the product (and the features), and the need and want for having such a product. The list will be called a ‘requirements specification’ and discuss features/ functionality/ look and feel/ characteristics/ etc

b)Once completed, distribute and acquire responses.from a sample of potential users(at least 10-15 users)

c)use the responses to further enhance, validate and or refine your ‘requirements specification’ for your product.

(Final Requirement specification Max 4 pages)

Requirement5 – Design of prototype (20 Marks)

Having determined a list of requirements for your product, design a prototype of your product.

Consider the :

a)physical appearance,

b)the underlying technology (hardware, software, mode of communication) and

c)the interface designs.

This design could be a represented by a physical design (using substitute materials) paper based designs and supportive notation

For example this could be an actual product made out of substitute materials (if you are discussing ‘Kevlar’, then perhaps you could use ‘cardboard’ as a substitute or some other appropriate material, a paper based designs could include screen shots, graphical design, photo’s, design schematics.etc with consideration to size and scaling ). Illustrate your design with any supportive comments./ notes.

Requirement6–Marketing (10 Marks)

Having defined the market, consider your marketing strategy and develop a marketing plan. This will outline your target audience, and your approach to market your product. Consider your marketing mix in terms of your approach. (Max 3 A4)

Please Note :

YOU ARE ADVISED TO KEEP A LOG OF YOUR CONTRIBUTIONS AND WORK LOADS

In carrying out this research

You will be conducting this work as an individualpiece of work, there should be no collaboration with the other teams, in fact they should be treated as competition. You are being asked to formulate analytical techniques in order to collate information and filter what is relevant versus irrelevant. You will be developing skills that allow you to present information in many ways (diagrams, notes, explanations, arguments etc) You will be expected to identify and look at many sources for information, such as the internet, journals, books, newspapers, TV and other media.

It is important that you schedule your time well. As a suggestion you could list the activities you are to carry out, provide a time line against those activities and have milestones (such as Requirement X completed by week A, Requirement y completed by week B etc) This could be placed in the appendices.

One approach is to formulate a reverse calendar – starting with the final report deadline and work backwards for completion of each requirement, all the way to now. Whatever way you decide, be methodical, time conscious, consider what you have to do in order to achieve each requirement. do not leave it to the last week, your marks will reflect the lack of quality.

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Assignment– New product development to market

Appendix 3 - Assessment guide

-The following is intended to be used as a guide to indicate the marks allocation …

Deliverable / Max mark / To achieve a mark of 40% / To achieve a mark of +70%
Report and statement of members with company name / 12 / -Basic structure with nominal references
-Basic Grammar and explanations
-Statement Sheet filled out / -Extension to 40%
-Very comprehensive report
-Professional presentation
-Good Introduction, well sectioned body and encompassing appendices
-Well articulated and composed
-Citing and referencing to ‘Harvard Style’
Business case / 20 / -Rudimentary look at current technologies
-Basic and standard idea/ product per group member
-Some moderate Information given per idea
-Matrix supporting decision made
-The soundness and innovativeness of the idea is fairly standard
-A standard defence of arrived at decision. / -Wide spread and probing look into relevant technologies
-Good range of ideas with good level of sophistication for technology consideration
-Each idea with comprehensive and encompassing advantages and disadvantages.
-Matrix giving clear and supportive comparisons
-Well presented and explained matrix
-The soundness and innovativeness of the idea is moving towards uniqueness and intellectually compelling
-Well supported decision, with good considerations of market conditions, user requirements, competition, skills available, benefits
Product development Lifecycle Project Plan / 12 / -Basic plan presentation with ‘key; shown
-Major stages shown with monthly duration
-Some sub activities/ tasks
-Simple dependencies
-3 major milestones
-3 major deliverables / -Comprehensive and professional layout and presentation of plan
-All stages with sub activities broken down to 2 levels
-Sequencing and dependencies well presented and encompassing
-Milestones and deliverables for each of the stages, with some deliverables in some sub activities
Product requirements specification and questionnaire / 18 / -Stated Identified target audience
-Relevant, basic questionnaire with standard questions, presentation adequate
-Between 10 - 15 returned and filled questionnaires
------
-The product requirement list has listed features, with basic ‘area’s covered.
-is of presentable work, and is reflective of responses from questionnaire / -Comprehensive and probing questionnaire
-Professional questionnaire with wide and encompassing subject matter investigated
-Insightful questionnaire
-Between 15 – 20 returned and filled questionnaires
------
-The product requirement list has extensive listed features, with many basic and extended ‘area’s of features, designs, functionality etc covered,
-is of professional level of work, and is very reflective, insightful and builds on responses from questionnaire
Design / 20 / -Rudimentary presentation, identifying some of the main requirements
-Standard ‘fit’ of design to requirements
-Standard design of physical appearance, technology appreciation and interface design / -Excellent presentation of prototype
-Very good consideration and level of detail of technologies underpinning the prototype
-Well thought through design
-Excellent ‘fit’ to requirements
-Thorough, good originality and relevance, showing insight and fulfilment
Marketing / 18 / -Basic plan, with basic objectives
Some Marketing mix ventured (5 p’s) and discussion of approach in context to product and current environment / -Fairly Professional plan, with objectives and good marketing mix
-Marketing mix/ approach very insightful and relevant to current and projected market place, in relation to product
-Some consideration of the future of the product and business

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Assignment– New product development to market

Appendix 4 – Assignment cover sheet

Coventry University/City University
This assignment is to be submitted to
the counter, AEB at week 12 (i.e. 29/11/2013 at 5.00pm) / Date Stamp
Family Name(s):
Forename(s):
Declaration: I / We declare that this Coursework is my / our own work. Cheating is a serious academic
offence. I / We have read and agree to abide by the University guidance on Academic Honesty.
Signature(s):
Time taken to complete assignment (hrs):
Module Code/Title:208KM Current Technologies
Lecturer: Terry Lam
Hand-out Date:Week 6
Assignment No./Title: New Product development to Market
Assignment Type: Group
Estimated Time (hrs): / Due Date: 29/11/2013, 5pm (To the counter of AEB)
Mark box if extensions and late submissions are prohibited on this assignment:
Date extension agreed until 1:
Signed:
(Course lecturer)
Learning Outcomes Assessed (or on separate sheet)
1. Demonstrate sound understanding of the range of current and emerging contemporary technologies
2. Explain how to apply contemporary technologies and innovation management to the market place
Assessment Criteria (or on separate sheet) / Max / Awarded
Report
Business Case
Product Development Lifecycle project Gantt Chart
Product requirements specification and questionnaire
Design and prototype
Marketing
Presentation / 12
20
10
18
20
10
10
Comments / Total / 100
Penalty 2
Assessor’s signature: / Date: / Final Mark
Note: / 11. If you are unable to submit your work due to extenuating circumstances you may apply for an extension.
2. The penalty for late submission is 10% of the mark awarded for each calendar week or part of calendar week late.
3. Zero mark will be awarded to late submission for more than two weeks.

Appendix 4 – Assignment cover sheetStudent Copy

Coventry University/City University
This assignment is to be submitted to
the counter, AEB at week 12 (i.e. 29/11/2013 at 5.00pm) / Date Stamp
Family Name(s):
Forename(s):
Declaration: I / We declare that this Coursework is my / our own work. Cheating is a serious academic
offence. I / We have read and agree to abide by the University guidance on Academic Honesty.
Signature(s):
Time taken to complete assignment (hrs):
Module Code/Title: 208KM Current Technologies
Lecturer: Terry Lam
Hand-out Date: Week 6
Assignment No./Title: New Product development to Market
Assignment Type: Group
Estimated Time (hrs): / Due Date: 29/11/2013, 5pm (To the counter of AEB)
Mark box if extensions and late submissions are prohibited on this assignment:
Date extension agreed until 1:
Signed:
(Course lecturer)
Learning Outcomes Assessed (or on separate sheet)
1. Demonstrate sound understanding of the range of current and emerging contemporary technologies
2. Explain how to apply contemporary technologies and innovation management to the market place
Assessment Criteria (or on separate sheet) / Max / Awarded
Report
Business Case
Product Development Lifecycle project Gantt Chart
Product requirements specification and questionnaire
Design and prototype
Marketing
Presentation / 12
20
10
18
20
10
10
Comments / Total / 100
Penalty 2
Assessor’s signature: / Date: / Final Mark
Note: / 11. If you are unable to submit your work due to extenuating circumstances you may apply for an extension.
2. The penalty for late submission is 10% of the mark awarded for each calendar week or part of calendar week late.
3. Zero mark will be awarded to late submission for more than two weeks.

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